MEV Burn: A Natural Extension of EIP-1559

Maximal extractable value (MEV) is the maximum value that can be extracted by various participants directly or indirectly from the privilege of block production in excess of block rewards. In a narrow sense, MEV refers to the value extracted from strategic transaction reordering, including sandwich trading (i.e., frontrunning and backrunning a trade), liquidation of collateralized loans, decentralized exchange (DEX) arbitrages, etc. 

In practice, searchers run sophisticated algorithms to detect MEV opportunities and submit profitable transactions to validators. They pay high gas fees to validators in exchange for a higher likelihood of getting their transactions included in a block. Hence, both parties capture a portion of the MEV.